SOLE PROPRIETORSHIP: A business owned by a single person and that person is solely responsible for the debts (unlimited). It’s a business that is simple and easy to set up. LIABILITY: The owner of the business is solely responsible. The owner signs business contracts in their own name. INCOME TAXES: Income earned by the business is the owner’s income. The sole proprietor files at 1040 and schedule C & SE. LONGEVITY/CONTINUITY: The business dies with the owner unless there is a Last Will & Testament
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proprietorship is the easiest of all the business types to start and take the least amount of start-up capital. This is also the most common form of doing business in the United States. With a sole proprietorship‚ the business and the owner are one in the same and it is not possible to bring someone into the business. Liability: The owner is responsible for the debt of the business. There is no differential made from the business to the owner. If the business is unable to pay‚ debtors can secure
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archive ACC 310 Entire Course includes following files: ACC 310 ASH Week 1 DQ 1 Information for Decision Making and Cost Concepts and Behavior.docx ACC 310 ASH Week 2 Assignment Special Orders.docx ACC 310 ASH Week 2 DQ 1 Fundamentals of Cost Accounting for Decision Making.docx ACC 310 ASH Week 2 DQ 2 Fundamentals of Product and Service Costing.docx ACC 310 ASH Week 3 DQ 1 Job and Process Costing.docx ACC 310 ASH Week 3 DQ 2 Activity Based Costing.docx ACC 310 ASH Week 4
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Contract Elements Business Law is an interesting topic‚ especially when contracts are the subject of discussion. Contracts can obligate a party to perform a task‚ stop performing a task. They can be a guideline on a specific business sale or as simple as ordering something online. When things go wrong and contracts are claimed to be broken‚ the first thing we look into is whether it was a valid contract to begin with. For a contract to be considered valid there are 4 main elements it must contain
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Kudler Fine Foods Frequent Buyer Program James L. Lewellen BSA/310 June 17‚ 2013 Thomas Potts Kudler Fine Foods Frequent Buyer Program The intent behind the development of Kudler Fine Foods Frequent Buyer Program is to increase the level of customer loyalty. The system will be broken down into two different levels; the frequency of a buyers shopping with Kudler Fine Foods and the amount of money that the buyer spends with each purchase. A program like this is typically used as a marketing
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McHugh‚ J. M.‚ & McHugh‚ S. M. (2013). Understanding business (10th ed.). New York‚ NY: McGraw-Hill Irwin. Raiborn‚ C. A. (2010). Core concepts of accounting (2nd ed.). Hoboken‚ NJ: Wiley. All electronic materials are available on the student website. Week One: Business Structure Details Due Points Objectives 1.1 Identify the application of information systems in business. 1.2 Examine the impact of information systems on the business structure. Reading Read Bonus Ch. B‚ “Using Technology
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consumer purchase cycle. Now Kudler Fine Foods wants to expand its business through the utilization of a Frequent Shopper Program. The Frequent Shopper program is currently in design with a working high-level model up for proposal. Doing the business through Electronic Commerce‚ Kudler Fine Foods has to consider several legal considerations in the development of its Frequent Shopper Program. Electronic contracts for online business transaction are legally bound all over the world. There are several
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Situation A Facts of Situation A as it pertains to the Family and Medical Leave Act of 1993 (FMLA). • Employee A has been employed for over 1 year • Employee A was on extended leave due to the birth of a child • Company X has more than 50 employees • New Manager agrees to return Employee A to previous job and pay‚ denying pay for time off The FMLA states that an employee can be on extended leave up to 12 weeks without pay as long as certain provisions are met. In reviewing the facts of this
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• What are the advantages of aligning business and IT strategies There are many advantages of aligning business and IT strategies. For most companies aligning the business and IT a strategy are both a necessity and gives a competitive advantage. Alignment can exist if the directional aspects of IT strategy are driven by the business strategy. If a company neglects to align business and IT strategies it can result in a significant setback for the company in reference to the capabilities it needs
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MKT 310 : Exam 2 Study Guide BOOK Ch.5 : International Trade Theory An Overview of Trade Theory: * The Benefits of Trade – Some international trade is beneficial‚ exchange products you can produce at a low cost for some products you cannot produce at all * Free Trade – The absence of government barriers to the free flow of goods and services between countries. * International trade allows a country to specialize in the manufacture and export of products it can produce most efficiently
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